Yesterday: Market opened as expected and closed with steep downtrend.

Today:  No sign of strength is seen in Indian stock market. The Market will go up in a strong manner only when Sensex crosses 9100. So take a long position at 9150 mark for Sensex and at 2838 mark for Nifty. Today is a crucial day for Indian Stock Market as Airtel and reliance will announce its result. So it is much better to take position after the results have been declared because these results will provide direction to the market for entire month.

BSE Sensex: (8779) The target for the Sensex is 7900 and the resistance to the up move is at 8950-9100.

NSE Nifty: (2706) the target for the Nifty is at 2686-2500 and the resistance to the up move is at 2760-2800.

Important Data to Watch: Global Market, Inflation, Results of Airtel and Reliance.

Todays pick: Buy HDFC bank around 855 with a target of 934.

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